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Online lettings company lettingaproperty.com has reached its Seedrs investment target with 10 days to spare, having raised 101% of the £850,000 crowdfunding goal.
Launched on 24 January 2023, the campaign is now approaching its final week, having attracted 191 investors across 16 countries so far. This includes an initial raise of £750,000 from the MEIF Proof of Concept & Early Stage Fund, managed by Mercia and part of the Midlands Engine Investment Fund, and Mercia’s EIS funds.
Although the Seedrs target has been met, the campaign will continue to remain open for investment until close on 23 February.
Founder and CEO, Jonathan Daines, comments: “We are delighted with the appetite that has been shown for investment in lettingaproperty.com as a result of our Seedrs crowdfunding campaign. Given the strong demand from investors, our board has unanimously agreed to extend our initial funding target.”
The lettingaproperty.com business model has already resulted in impressive growth, with more than 1,500 properties managed across the UK, and an 80% subscriber increase over the last two years. The company generated £1.1 million turnover in 2022 with £800,000 of that from recurring revenue subscriptions.
Funds raised in this round will focus on driving marketing activity to boost recurring revenue further and capture greater market share, while also fuelling the firm’s technology roadmap and the recruitment of specialist roles across the organisation.
Since 2008, lettingaproperty.com has offered a smarter alternative to traditional high street letting agents. Landlords can advertise their properties, process applications and tenant checks, create tenancy agreements and more, supported by a professional lettings team, on hand to provide expert help and advice at every step.
Everything is managed through the lettingaproperty.com rental platform, featuring built-in legal compliance, digital wallets, OpenBanking, document storage, and instant messaging – all facilitating secure landlord-tenant communication.
Fixed-fee lettings plans include rent protection and LetsProtect legal support – giving landlords financial peace of mind and an invaluable ‘safety net’ in the event of rent arrears, evictions or other legal disputes – crucial in this economic climate.
lettingaproperty.com is on a mission to become the go-to destination for renting. Offering simple rental property management from any device, anywhere, at any time.
Learn more about lettingaproperty.com and invest on the Seedrs crowdfunding page: https://www.seedrs.com/lettingaproperty/
Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future. Seedrs or the fundraising business do not make investment recommendations to you and any investment decision should be made on the basis of the full campaign. No communications about any campaigns on Seedrs you receive from Seedrs or the fundraising business, through email or any other medium, should be construed as an investment recommendation.
This article has been approved as a financial promotion by Seedrs Limited on 14/02/23
Seedrs Limited is authorised and regulated by the Financial Conduct Authority. Seedrs Limited is a limited company, registered in England and Wales (No. 06848016), with registered office at Churchill House, 142-146 Old Street, London EC1V 9BW.
